PHILIPPINES MUST GROW FAIRLY AS IT GETS RICHER

It's striving to be an upper-middle income country by 2026, but economic growth alone isn't enough

- BY JAY HILOTIN | Senior Assistant Editor

The race is on — and the finish line is getting closer. The Philippines is gunning to become an upper middle-income country (UMIC) by late 2025 or 2026. It’s more than just a bragging right. It's about making lives better for the 114 million or so inhabitants of the archipelago made up of 7,641 islands.

According to the World Bank, a country needs a Gross National Income (GNI) per capita of at least $4,516 to join the UMIC club. The Philippines currently sits at $4,230 (2023), just a short jeepney ride away from the mark.

However, crossing that threshold means more than just numbers — it’s a passport to better opportunities, global confidence, and, hopefully, fewer Filipinos left behind.